GulfMark Offshore (NYSE:GLF) has a high-quality, high-spec modern marine vessel fleet, but investors presently seem more concerned about the risks of delays in new rig deployments in the Gulf of Mexico than the opportunities offered by higher utilization and dayrates in the North Sea and GoM in the coming years. GulfMark isn't hands down a screaming bargain today, but I believe the current market conditions support a bullish outlook for profit and cash flow generation over the next couple of years.
Okay Results At Present
GulfMark came in with first quarter financial results that were just slightly weaker than sell-side expectations. Not helping matters was guidance that doesn't really give the sell-side a strong call to take to...
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